One of the explanations for Amaranth’s outsized position in natural gas futures is that energy trader Brian Hunter may have been predicting that hurricanes this summer would hurt energy production. So where did Hunter get the idea that hurricanes would be worse this year than last?
Maybe from Al Gore. Last night we had occasion to flip through the book version of An Inconvenient Truth and came across this paragraph in the introduction.
The voluminous evidence now strongly suggests that unless we act boldly and quickly to deal with the underlying causes of global warming, our world will undergo a string of terrible catastrophes, including more and stronger storms like Hurricane Katrina, in both the Atlantic and the Pacific.
Maybe we should have added Al to our poll on who to blame for Amaranth.